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The Effects of Trade Policy on Trade among the EU and BRICS Countries

In: Ekonomický časopis/Journal of Economics, vol. 68, no. 9
Bohdan Vahalík Číslo ORCID - Lenka Fojtíková Číslo ORCID
Detaily:
Rok, strany: 2020, 918 - 938
Jazyk: eng
Kľúčové slová:
BRICS, European Union, international trade, gravity model, trade policy; JEL Classification: C33, F11, F13, F14, F41
Typ článku: Vedecký článok / Article
Typ dokumentu: PDF / PDF
DOI: https://doi.org/10.31577/ekoncas.2020.09.03
Full text
O článku:
The aim of this paper is to estimate whether the liberalization process benefited a mutual trade between the EU and BRICS Members over the last two decades, and whether protectionism, which is currently on the rise, still represents a significant toll to trade. Our results proved that the multilateral trade liberalization process, represented by the WTO, is no longer benefiting trade among observed economies. It clearly confirms the long-standing stalemate in the WTO. We have also found that the observed FTA between the EU and South Africa created trade strongly, but unevenly. Finally, we found that the level of tariffs no longer represents a significant barrier to trade among observed countries.
The aim of this paper is to estimate whether the liberalization process benefited a mutual trade between the EU and BRICS Members over the last two decades, and whether protectionism, which is currently on the rise, still represents a significant toll to trade. Our results proved that the multilateral trade liberalization process, represented by the WTO, is no longer benefiting trade among observed economies. It clearly confirms the long-standing stalemate in the WTO. We have also found that the observed FTA between the EU and South Africa created trade strongly, but unevenly. Finally, we found that the level of tariffs no longer represents a significant barrier to trade among observed countries.
Ako citovať:
ISO 690:
Vahalík, B., Fojtíková, L. 2020. The Effects of Trade Policy on Trade among the EU and BRICS Countries. In Ekonomický časopis/Journal of Economics, vol. 68, no.9, pp. 918-938. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2020.09.03

APA:
Vahalík, B., Fojtíková, L. (2020). The Effects of Trade Policy on Trade among the EU and BRICS Countries. Ekonomický časopis/Journal of Economics, 68(9), 918-938. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2020.09.03
O vydaní:
Vydavateľ: Ekonomický ústav SAV / Ekonomický ústav SAV
Publikované: 16. 10. 2020